Now isn’t a good time to be entering the job market. Companies tend to hire more entry-level graduates when they are confident about the economy and their earnings prospects. That’s not currently the case, and President Donald Trump’s high import tariffs are at least partly to blame.
Tariffs are taxes imposed by a government on imports. Shortly after taking office, President Trump, a long-term skeptic of global trade, began charging most of the rest of the world heavily to send goods to the U.S., arguing that it would represent a win for American-made goods and create jobs.
What Trump didn’t mention is how damaging tariffs can be to the economy. Many U.S. companies and consumers rely on foreign goods and materials. Finding U.S.-made equivalents is either impossible or considerably more expensive, resulting in higher costs for consumers, companies, or both. And it’s not just imports that are affected.
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